The big news today will definitely be NVDA earnings given its size and importance of tracking the AI story and some may even argue the health of the US economy via the spending of the tech giants. The one thing that seems clear to our analysts is that the growth trajectory is not sustainable and thus neither the stock price at these levels. Yes call us party poopers at this point!
Asian stocks fell overnight and for some reason that is being blamed on China's faltering economy sparked by the country's poor corporate performance according to some wires. The narrative is strange and price is in search of a narrative here surely. This may bleed into Europe though.
Of greater significance was AUDUSD CPI beating expectations suggesting to us that China is not as weak as some claim.
WTI remains a tough trade as the market oscillates between slowdown fears, geopolitical shenanigans and what could only be called strange sentiment shifts.
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